Tuesday, 23, July, 2024

The President signed the Measures to create more favorable conditions for business entities for the perbuildance of tax obligations Decree on Monday.

According to the Decree, from January 1, 2022:

- financial sanctions shall not be applied for offenses found by a desk tax audit;

- financial sanctions for non-sending of tax reporting within the established time frame shall be canceled.

The decree supported the proposal of the State Tax Committee on the calculation and buildation, as an experiment, in January - July 2022 by tax authorities of tax reporting on value added tax, excise tax, turnover tax, land tax from legal entities of taxpayers registered with the state tax management of the Khorezm region.

The Decree has also established a procedure in accordance with which, within the framework of the experiment:

a) tax authorities calculate and build tax reporting:

- on land tax from legal entities - based on data from the Cadastre Agency;

- on value added tax, excise tax and turnover tax - based on the data of electronic invoices and online cash registers, as well as other data available with the tax authorities;

b) tax reports generated by tax authorities shall be sent through the personal account of the taxpayer at least 10 days before the deadline for submitting the relevant tax reports by taxpayers;

c) the taxpayer, within 5 days from the date of receipt of the tax reports generated by the tax authorities, shall approves it or, if there are objections, rejects, processes and submits tax reports to the tax authorities in accordance with the established procedure.

The State Tax Committee, together with the interested ministries and departments, is entrusted to:

a) by January 1, 2022, create an opportunity for taxpayers to reflect taxable items or other tax-related items required for calculating value added tax, excise tax and turnover tax in electronic invoices;

b) submit to the Cabinet of Ministers:

- proposals by November 1, 2021, including amendments and addenda to legislative acts arising from this Decree, as well as on enhancing measures of liability for violation of the requirements for the submission of data on taxable objects and (or) other objects related to taxation;

- proposals by August 1, 2022, for extending the experiment to taxpayers in all provinces of the republic and expanding the list of taxes for which tax reporting shall built by tax authorities, with an in-depth analysis of the results of the experiment.

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